The analysis deals with the main issues of rational regulations in open economies. Schumpeterian developments and dynamic efficiency gains are crucial for Europe in the context of telecommunications competition and network modernisation - achieving the goals of the Lisbon Agenda requires adequate incentives for investment and solid capital market prospects. Economic progress in the digital knowledge society will be characterised by enormous structural change and the growth of digital services. New policy conclusions at both the national and international levels - including welfare analysis - are presented.
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